Syed Attiq Muzaffar

WHAT DO WE MEAN BY CORPORATE SOCIAL RESPONSIBILITY?

MS (BA)
Critique

The main idea behind this article is to access the real understanding of the concept corporate social responsibility. In general terms the corporate social responsibility is the liability of organizations towards society. Organizations get all the revenues from society so there is also a liability on organization to serve the society and do not involve in the practices that will harm the public interest. In past organization are only concerned to their revenues and do not take care what their operations impact on society like in industries they do not care about the wastes impact on humans and pollutions in the society, but the perspectives of industrialists change and business men realizes that they have responsibility towards others. Governments have introduced legislations and organizations started spending on human welfare, preventing their wastes to harm human health and they also initiated human welfare programs. This article examines the definitions surrounding the corporate social responsibility with literature and practical view. CSR is an organization in Europe and its reporting guideline looks at following areas; Workplace Marketplace Environment Community Ethics Human rights

According to CSR organizations must work on these areas to have good contributions towards the workplace, marketplace, environment, community, ethics and human rights. Like on workplace employees should be benefited with prestige, take steps to improve environment conditions and make it healthy for society. Organizations are also forced to work for well being

Syed Attiq Muzaffar

MS (BA)

of community for this purpose they participate in welfare of people and involve themselves morally and financially in sports, recreational and health related activities. They also work for the human rights. This articles also examines different theories relating to the corporate social responsibility such as ; Stakeholders theory Social contracts Legitimacy theory

Author critically reviewed the theories and tells that why this type of behaviors happen in the society. The Stakeholder Theory of the firm is used as a basis to analyze those groups to whom the firm should be responsible. The firm can be described as a series of connections of stakeholders that the managers of the firm attempt to manage. Freemans classic definition of a stakeholder is any group or individual who can affect or is affected by the achievement of the organizations objectives Social contracts theory states that in the context of CSR, an alternative possibility is not that business might act in a responsible manner because it is in its commercial interest, but because it is part of how society implicitly expects business to operate. Legitimate theory poses different threats to the CSR; Seek to educate its stakeholders about the organizations intentions to improve that performance Seek to change the organizations perceptions of the event (but without changing the organizations actual performance Distract (i.e. manipulate) attention away from the issue of concern

Syed Attiq Muzaffar

Seek to change external expectations about its performance

MS (BA)

This article has reviewed a broad understanding of what is meant by corporate social responsibility and how and why business might undertake such behavior. Whether actions by business that provide business benefits are ultimately regarded as socially responsible by stakeholders is a question that remains open. There are emerging methods of assessing corporate social performance but these are not established and are subject to considerable debate. However, common threads in the literature involve establishing principles for action and using stakeholder analysis and engagement as a way of determining precise activities. Nevertheless, there is an increasing focus both by business on CSR and also by society on the actions of business.